Venture syndicate finances OPi acquisition

A venture syndicate has come up with $175 million to fund EUSA Pharma's acquisition of France's OPi SA. And more buyouts are being planned as EUSA ramps up plans to build a portfolio of products in oncology, pain and critical care in both the EU and the U.S. OPi's focus is onco-haematology, with two drugs approved for the treatment of acute lymphoblastic leukaemia. The syndicate was led by Essex Woodlands and 3i including, Goldman Sachs, Advent Venture Partners, NeoMed and NovaQuest.

"We believe that the combination of EUSA Pharma and OPi is a strong platform for rapid growth," says CEO Bryan Morton. "The company plans to make more acquisitions to add further value in pursuit of our goal of becoming a $1 billion company."

- here's the release on the deal